Oil prices dipped on Thursday after U.S. crude hit 2016 highs the day before and Brent shot back over $40 per barrel, with analysts warning that larger gains would be unwarranted as a global glut continues to outweigh strong demand. ASTANA Kazakhstan indicated on Thursday it had no plan to freeze oil output, as suggested by a group of major producers, and would instead ramp up production to its original target of 77 million tonnes per year if the oil price stayed above $40 a barrel. BEIJING China’s plan to close 100 million-150 million tonnes of poorly performing steel capacity in the next five years is unlikely to be enough to drag the stricken sector out of the doldrums, a parliamentary delegate and steel mill head told Reuters. BAYTOWN, Texas Plunging energy prices robbed the Texas economy of an estimated 60,000 jobs last year, as oil and gas […]